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KoNECT Talkshow: What Defines Success In New Drug Development?

Patient, Social Value Key Considerations

 
• By Jung Won Shin

At a recent conference in Seoul, senior executives shared views on a broad array of topics around developing globally successful new drugs in an extremely competitive environment, including what could be considered as success. Awareness of patient needs and social value emerged as some key threads.

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Experts Share Views On Success And Failures In New Drug Development • Source: Shutterstock

While the South Korean biotech industry appears to be in a temporary slowdown, investment funds remain solid and expectations are rising amid active convergence between biotechnology and IT. Although the COVID-19 pandemic has brought multiple challenges, the pharma industry has also experienced and learned much from it.

As the country's biopharma industry makes progress in developing new drugs and entering global markets, it is also worth looking at whether the domestic operating environment is advancing in parallel.

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